Announcements

Fee Schedule Adjustment April 19, 2018

Today the fee schedule on Ethfinex was adjusted. This followed a careful review of the current exchange ecosystem, and ensures the platform remains competetive to attract both large and small traders.

The new fees schedule is as follows:

EXECUTED IN THE LAST 30 DAYS (USD EQUIVALENT) MAKER FEES TAKER FEES
$0.00 or more traded 0.100% minus loyalty fee rebate (variable) 0.200%  
$50,000.00 or more traded 0.100% minus loyalty fee rebate (variable) 0.190%  
$1,000,000.00 or more traded 0.100% minus loyalty fee rebate (variable) 0.170%  
$5,000,000.00 or more traded 0.100% minus loyalty fee rebate (variable) 0.160%  
$10,000,000.00 or more traded 0.100% minus loyalty fee rebate (variable) 0.140%  
$20,000,000.00 or more traded 0.075% minus loyalty fee rebate (variable) 0.120%  
$30,000,000.00 or more traded 0.050% minus loyalty fee rebate (variable) 0.100%

 

Maker fees are paid when you add liquidity to our order book by placing a limit order under the ticker price for a buy and above the ticker price for a sell.

Taker fees are paid when you remove liquidity from our order book by placing any order that is executed against an order of the order book.

Note: If you place a hidden order, you will always pay the taker fee. If you place a limit order that hits a hidden order, you will always pay the maker fee.

Loyalty Fee Rebates

Ethfinex has a Maker Loyalty Program. You can earn Nectar Tokens (NEC) in proportion to the trades you place as a Maker every 30 days. 50% of fees on Ethfinex are assigned to a pool on the Ethereum blockchain for holders of NEC, and therefore by trading as a Maker you earn a stake in the success of Ethfinex. Find out more in our Knowledge Base or go to your account page to join.

 

Second Nectar Token Distribution April 14, 2018

Ethfinex has just completed the second Nectar token distribution to traders, with a total of 2,567,357 NEC credited to reward traders during the last 30-day period. If you have already verified your account and registered for the scheme, you will now be able to see new NEC credited to your Ethfinex account.

50% of revenues from this period (16th March - 14th April) were pledged to Nectar token holders, totalling 2,580.9 ETH. The transactions pledging these to the token holders, and forwarding the Ether to a vault contract, can be observed on Etherscan (here and here).

A full report on Ethfinex’s performance over Month 2 will be released over the coming days, as well as an update on governance for Nectar token holders and the first proposals to vote on.

Find out how you can start being rewarded for trading by visiting our our blog or going to your account section and registering for the scheme.


Unverified Users with the Nectar Loyalty Program

Unfortunately unverified users or those who have not accepted the terms of the Loyalty Program are not able to be credited Nectar tokens, even if they have been trading on Ethfinex.

However we recognise that at this time our verification process is extremely backlogged, often taking weeks or longer. Therefore all market makers using Ethfinex will be able to be credited Nectar tokens retrospectively on being successfully verified. All customers who were verified during the past 30 days have now also been credited their Nectar from the previous month.

Learn more about Nectar

Lowered Equity Minimum and New Token Listing April 07, 2018

We are very pleased to announce that the equity amount for new traders has been lowered from 10,000 to 1,000 USD equivalent. 12 new tokens are also now available on Ethfinex.

The initial equity requirement was a temporary measure to limit the number of new users while we scaled the platform and the support team, and so it marks a major milestone to be reducing it. Our support team is now prepared and ready to welcome many more members of the ethereum community, and to provide a fantastic customer experience to a much larger user base. Upon depositing the smaller minimum, traders will now have full access to the Ethfinex platform.

At 4pm UTC today we will list 12 new on our trading platform. The tokens to be listed are:

  • Aion (AION)
  • IOSToken (IOST)
  • Request Network (REQ)
  • Raiden Network (RDN)
  • Loopring (LRC)
  • BnkToTheFuture Token (BFT)
  • Cofound.it (CFI)
  • WAX (WAX)
  • SingularityNET (AGI)
  • MedicalChain (MTN)
  • ODEM (ODEM)
  • DAI (DAI)

Deposits have opened for all of the tokens mentioned.

Listing a larger range of trading pairs in the lead up to the launch and integration of the Ethfinex non-custodial trading portal (where deposits and withdrawals will no longer be required to trade as users always have control of their funds) allows us to build up liquidity in advance.

Read more about each of the tokens in the full announcement to find out why each of these tokens was selected and why we think they represents a great fit for Ethfinex and the decentralised community as a whole.

First Nectar Token Distribution March 15, 2018

Ethfinex has just completed the first Nectar token distribution to traders, with a total of 2,626,948 NEC credited to reward traders during the last 30-day period. If you have already verified your account and registered for the scheme, you will now be able to see new NEC credited to your Ethfinex account.

50% of revenues from this period (13th February - 15th March) were pledged to Nectar token holders, totalling 1,976.58 ETH. The transactions pledging these to the token holders, and forwarding the Ether to a vault contract, can be observed on Etherscan (here and here).

A full report on Ethfinex’s performance over Month 1 will be released over the coming days, as well as the launch of a new set of tools for Nectar token holders to create and vote on proposals about Ethfinex’s future, as the start of decentralising the platform’s governance.

Find out how you can start being rewarded for trading by visiting our our blog or going to your account section and registering for the scheme.


NEC Deposits and Withdrawals Open

NEC deposits and withdrawals are now open, allowing you to withdraw tokens and whitelisting your Ethereum address. Please be aware that once withdrawn from Ethfinex, Nectar token can only be transferred to other whitelisted addresses or back to Ethfinex.


Unverified Users with the Nectar Loyalty Program

Unfortunately unverified users or those who have not accepted the terms of the Loyalty Program are not able to be credited Nectar tokens, even if they have been trading on Ethfinex.

However we recognise that at this time our verification process is extremely backlogged, often taking weeks or longer. Therefore all market makers using Ethfinex after the 13th February will be able to earn Nectar tokens, although they will not be credited them into their account until they have been successfully verified.

On successful completion of verification and agreement to terms any accrued NEC for previous periods will be credited to the user’s account.

We are currently working on a streamlined verification process, and once this is in place, customers who have not already done so will be required to apply for verification within 30 days, failing which they will lose earned tokens.

Learn more about Nectar

Nectar Tokens (NEC) and Fee Adjustments February 12, 2018

As of this evening, February 12th, 2018, Ethfinex has implemented a number of fee schedule adjustments to accommodate the Nectar token (NEC) integration.

Maker fees on Ethfinex will be 0.100% regardless of total trading volume, as opposed to following a tiered fee schedule. Taker fees on Ethfinex will start at 0.200% for 30-day trading volumes up to 50,000 USD, falling to 0.100% at 60,000,000 USD. The exact fee schedule can be reviewed at www.ethfinex.com/fees.

The fee schedule may be adjusted based on the value and issuance of Nectar over the upcoming months. In a situation where the value of NEC is not enough for the market maker loyalty scheme to be a strong incentive to provide liquidity, we may reduce trading fees to keep Ethfinex competitive.

The fee mechanism put in place by Ethfinex is designed to reward Nectar token holders, who will be stakeholders in the platform. Future governance decisions, including those relating to fee schedule, will be made with significant input from token holders.

Earn your stake in Ethfinex

Ethfinex has a Market Maker Loyalty Program which opens for registration on February 13th, 12 PM UTC.

This program allows you to earn Nectar tokens (NEC) in proportion to the 30-day trading volume you contribute as a market maker on Ethfinex. 50% of all trading fees on Ethfinex are pledged to Nectar token holders and can be redeemed at any time. Additionally, users can choose to trade their NEC on a secondary market against ETH and USD.

By trading as a market maker on Ethfinex (e.g. through placing limit orders) you will earn a stake in the long-term success of the platform and its decentralized ventures.

Learn more about Nectar here and visit www.ethfinex.com/nectar to get started.